The Debts Recovery Tribunal (DRT) has rejected the application of Piyush Marodia, managing director of Gupta Coal, seeking permission to travel to Singapore. The company has taken a loan of Rs 58.89 crore from State Bank of India (SBI) and is unable to repay it. DRT has impounded the passport of all the directors of Gupta Coal. DRT presiding officer Chikkam Vijay […]

State Bank of India (SBI) has moved the National Company Law Tribunal (NCLT) against independent power producer East Coast Energy Pvt Ltd (ECEPL), which suffered project execution delays owing to funds constraints.

Following the admission of loss-making Bhushan Steel under the Insolvency and Bankruptcy Code (IBC) earlier this year, State Bank of India (SBI) has now referred the company’s subsidiary Bhushan Energy — an unlisted entity — to the National Company Law Tribunal (NCLT).

Wind power solutions company Inox Wind is headed for insolvency after the National Company Law Tribunal’s (NCLT) Chandigarh bench ordered the commencement of the process in response to an operational creditor’s plea, in the first such case in the renewable energy sector.

A consortium of 23 lenders led by State Bank of India today cleared the Rs 86,000-crore sale of Essar Oil to Russia’s Rosneft-led group after the Ruias agreed to clear a part of the Rs 26,000-crore loans, including that of Life Insurance Corporation.